Huawei reported Q1 2022 revenue of CNY131 billion in revenue (approx US$19.80 billion), with a net profit margin of 4.3%.
“As always, we want to thank our customers and partners for their ongoing trust and support,” Hu added. “In 2022, we still face a challenging and complicated business environment. Despite considerable operational challenges, we will work more closely with our customers and partners around the world to overcome adversity.”
Huawei’s Q1 revenue drops 16.5% year-on-year
Huawei reported Q1 2021 revenue of CNY152.2 billion (US$23.17 billio) in revenue, a 16.5% decrease year-on-year. The company said its network business maintained steady growth, while its consumer business revenue declined, in part as a result of selling the Honor smart device brand in November 2020. Huawei’s net profit margin was up 3.8 percentage points year-on-year at 11.1% – the result of the company’s ongoing efforts to improve quality of…